SG Americas Securities LLC Has $32.82 Million Stock Position in Doximity, Inc. $DOCS

SG Americas Securities LLC grew its holdings in Doximity, Inc. (NYSE:DOCS) by 3,403.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,408,597 shares of the company’s stock after purchasing an additional 1,368,388 shares during the period. SG Americas Securities LLC owned about 0.76% of Doximity worth $32,820,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its position in Doximity by 99.5% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 796 shares of the company’s stock valued at $35,000 after purchasing an additional 397 shares in the last quarter. Toth Financial Advisory Corp lifted its position in Doximity by 100.0% in the 4th quarter. Toth Financial Advisory Corp now owns 1,000 shares of the company’s stock worth $44,000 after buying an additional 500 shares in the last quarter. Farther Finance Advisors LLC lifted its position in Doximity by 35.7% in the 4th quarter. Farther Finance Advisors LLC now owns 1,539 shares of the company’s stock worth $68,000 after buying an additional 405 shares in the last quarter. Leonteq Securities AG acquired a new stake in shares of Doximity during the 4th quarter valued at $78,000. Finally, Kestra Advisory Services LLC purchased a new position in shares of Doximity during the 4th quarter valued at $87,000. 87.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on DOCS shares. BMO Capital Markets dropped their price target on shares of Doximity from $25.00 to $20.00 and set a “market perform” rating on the stock in a research note on Thursday, May 14th. BTIG Research cut Doximity from a “buy” rating to a “neutral” rating in a research report on Thursday, May 14th. Robert W. Baird restated a “neutral” rating and issued a $18.00 target price (down from $40.00) on shares of Doximity in a research note on Thursday, May 14th. Truist Financial reaffirmed a “hold” rating and set a $19.00 price target (down from $29.00) on shares of Doximity in a research note on Thursday, May 14th. Finally, Evercore lowered Doximity from an “outperform” rating to an “in-line” rating and set a $25.00 price target for the company. in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating, twelve have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $30.62.

Insider Buying and Selling

In other news, Director Kira Scherer Wampler sold 9,000 shares of the business’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $26.06, for a total value of $234,540.00. Following the completion of the sale, the director directly owned 19,839 shares in the company, valued at approximately $517,004.34. The trade was a 31.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Siddharth Sitaram sold 2,444 shares of the company’s stock in a transaction on Monday, June 8th. The stock was sold at an average price of $20.41, for a total transaction of $49,882.04. Following the sale, the insider directly owned 90,706 shares of the company’s stock, valued at approximately $1,851,309.46. This represents a 2.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 16,180 shares of company stock worth $395,110. Insiders own 31.30% of the company’s stock.

Doximity Stock Up 2.4%

Shares of Doximity stock opened at $20.56 on Wednesday. The company has a market capitalization of $3.76 billion, a PE ratio of 20.77, a P/E/G ratio of 3.42 and a beta of 1.30. The stock’s 50 day moving average is $22.07. Doximity, Inc. has a 12-month low of $17.15 and a 12-month high of $76.51.

Doximity Profile

Doximity, trading as DOCS, operates a digital professional network and communications platform designed primarily for clinicians. Headquartered in San Francisco, the company connects physicians, nurse practitioners, physician assistants and other healthcare professionals, providing tools that streamline clinical communication, telehealth delivery and access to specialty-specific medical information. Its platform is positioned as a professional hub where clinicians manage their workflows, stay current with medical news and collaborate securely with peers.

The company’s offerings include secure messaging and video telehealth capabilities that enable clinicians to consult with patients and colleagues while protecting patient information.